Solana (SOL) Nosedives to $150, Can Bulls Prevent Further Collapse?

Solana (SOL) has been soaring, looking at the performance in the daily chart. At spot rates, the coin is trading above $50, up 520% in the past year when it slipped below $8 following the collapse of FTX, a now-defunct crypto exchange, and Alameda Research, a trading wing linked with FTX and one of the leading crypto market makers. Solana Blistering Rally At The Back Of Dropping Liquidity? Though Solana is “blistering” and at new 2023 highs, Kaiko, a crypto analytics platform, is concerned about the disparity in liquidity in USD and “native unit” terms. Typically,....

Solana network faltered anew, as the crypto space’s “Ethereum Killer” goes offline courtesy of faulty mechanics in its system. Just this September, co-founder Anatoly Yakovenko admitted during an interview that the outages which continue to plague Solana were the network’s curse. Yakovenko, however, was quick to defend, saying that the downtimes the system experienced could […]

Solana (SOL) faced a brutal selloff yesterday, mirroring the broader market collapse triggered by escalating U.S. trade war fears. The price plummeted over 19% in less than 24 hours, wiping out weeks of gains and sending shockwaves through the crypto market. Investors are now bracing for more volatility, as the bearish momentum could extend into the week ahead. Related Reading: Bitcoin Price Must Hold Above $97K To Sustain Momentum – Metrics Top analyst Jelle shared a price chart on X, highlighting that Solana has completely retraced the TRUMP meme coin pump. The rapid decline saw SOL drop....

Solana started a fresh decline from the $188 zone. SOL price is now consolidating losses below $180 and might decline further below $175. SOL price started a fresh decline below $185 and $180 against the US Dollar. The price is now trading below $182 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $192 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start another increase if the bulls defend $175 or $172. Solana Price Dips Again Solana price extended gains above $180 and $182, like Bitcoin and....

Solana developers have tackled the “durable nonce transaction” bug that knocked the network offline for the fifth time this year earlier this month as network activity slows. Developers have fixed the runtime bug that caused the latest outage of the Solana network on June 1. According to a report published by Solana Labs on June 5, Solana’s fifth outage of 2022 was caused by a bug in the “durable nonce transactions feature” which caused the network to stop producing blocks for roughly four and half hours.“The durable nonce transaction feature was disabled in releases v1.9.28/v1.10.23 to....